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CBRE. Inc, has arranged the sale and financing of Arvida Executive Center in Boca Raton, Florida. The 116,655-square-foot office park consists of two multi-tenant office buildings, a single-tenant office building, and a three-story structured parking garage.

CBRE facilitated the sale on behalf of a fund managed by DRA Advisors to Butters Acquisitions, who acquired the property for $21 million. The CBRE Capital Markets Debt & Structured Finance team arranged 10-year financing with Branch Banking and Trust Company on behalf of Butters. Vice chairman Christian Lee oversaw the transactions alongside senior vice president José Lobón on the sale effort and vice president Amy Julian on the financing. The CBRE South Florida Capital Markets team representing the seller also included financial analysts Andrew Chilgren and Tyler Ploshnick. Jeffrey Kelly, executive vice president of Advisory and Transaction Services, also assisted the Capital Markets team with the sale.

Arvida Executive Center is located at 2201 Northwest Corporate Boulevard in Boca Raton, west of I-95 and north of Glades Road, in immediate walking proximity to a host of amenities including Houston’s, Seasons 52, New York Prime Steakhouse, Madison’s, Macaroni Grill and Chipotle.

“The buyer’s planned renovation to the common areas should provide for further upside potential,” commented José Lobón, senior vice president.

“The BB&T loan allows for additional funding for Butters to carry out their capital plan, which will further enhance the park’s appeal and drive occupancy and rents at the property,” added Amy Julian, Vice President, CBRE Debt & Structured Finance.